Bank, the Asian Development Bank, the European Bank for Reconstruction and Development,
The Inter-American Development Bank refer to regional banks.
A) The African Development Bank (ADB) is a regional international bank established in 1964 for
Assisting in the economic growth of the independent African states. In 1972 an affiliated organization,
The African Development Fund, was set up with a membership open, unlike that of the Bank, to
Non-African states. It is through this Fund that loans are made to African member states at low rates
Of interest (soft loan). Affiliation to the Fund has enabled the Bank to broaden its sources of funds for
Investment. In 1982 the African members of the Bank agreed to open its membership to non-African
States. In 1996 the Bank had fifty African member states and twenty-five other member states.
B) The Asian Development Bank (ADB), based in Manila, was established in 1966, following the
Recommendations of the United Nations Economic Commission for Asia and the Pacific. It was
formed "to foster economic growth and cooperation in the region of Asia and the Pacific and to
contribute to the acceleration of economic development of the developing countries of the region".
It encourages economic and financial cooperation among the regional members. Membership